I recently planned to sell my ancestral land. I met with a potential buyer at a property agent’s office, and we agreed on a price of 35 lakhs. He gave me a cheque of Rs. 55,000 as a token amount. A week later, my parents advised me against selling and suggested I build a house on the land instead. I contacted the buyer and explained that I couldn’t sell the property anymore. Now he’s demanding double the token amount and threatening legal action, claiming I cheated him. We never signed any formal agreement for the sale.

Apni Law
Apni Law
Law Forum › Category: Property › I recently planned to sell my ancestral land. I met with a potential buyer at a property agent’s office, and we agreed on a price of 35 lakhs. He gave me a cheque of Rs. 55,000 as a token amount. A week later, my parents advised me against selling and suggested I build a house on the land instead. I contacted the buyer and explained that I couldn’t sell the property anymore. Now he’s demanding double the token amount and threatening legal action, claiming I cheated him. We never signed any formal agreement for the sale.
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Apni Law Staff asked 12 months ago

I recently planned to sell my ancestral land. I met with a potential buyer at a property agent’s office, and we agreed on a price of 35 lakhs. He gave me a cheque of Rs. 55,000 as a token amount. A week later, my parents advised me against selling and suggested I build a house on the land instead. I contacted the buyer and explained that I couldn’t sell the property anymore. Now he’s demanding double the token amount and threatening legal action, claiming I cheated him. We never signed any formal agreement for the sale.

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Best Answer

Apni Law Staff answered 12 months ago

As no formal agreement was signed, the transaction is not legally binding. You can return the token amount to the buyer and inform him that you are no longer selling the property. However, it is advisable to consult a lawyer for legal guidance in this situation, as the buyer’s threats of legal action may have merit based on the circumstances.

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